[Malaysian Reserve] Matrix posts 20.5% rise in FY14 profit
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[Borneo Post] Matrix Concepts posts higher earnings and turnover for 4Q14 and FY14

KUCHING: Matrix Concepts Holdings Bhd (Matrix Concepts) earnings for the fourth quarter of 2014 (4Q14) jumped 39 per cent year-on-year (y-o-y) to RM56.53 million.

For financial year 2014 (FY14), the company told Bursa Malaysia yesterday that its net profit increased 20 per cent y-o-y to RM182.61 million.

At the same time, Matrix Concepts said its turnover for FY14 gained 4.3 per cent y-o-y to RM598.29 million while revenue for 4Q14 grew 4.64 per cent y-o-y to RM151.03 million.

In its notes accompanying the release of its 4Q14 financial performance, Matrix Concepts said the improvement in the group’s results was due to the contribution of revenue by the group’s sales of development properties which commanded a better profit margin.

The company added that it achieved a better profit before tax (PBT) for 4Q14 attributed to better margins fetched by the latest development properties launched and sold by the group.

Commenting on the group’s prospects for this year, Matrix Concepts said the group is currently focused on the development of its township development projects in Bandar Sri Sendayan in Seremban, Negri Sembilan and Taman Seri Impian in Kluang, Johor.

Matrix Concepts revealed that the group had launched Phase 4 of its Hijayu 3A development project in Bandar Sri Sendayan and targets to launch Phase 1 of Hijayu 2 and Phase 1 of Sendayan Merchant Square Shop Offices within the same township during the first quarter of this year.

Additionally, Matrix Concepts said the group’s Matrix International School and Matrix Private School have started operation in September last year and January this year.

“The group is expecting to launch its clubhouse in Bandar Sri Sendayan township known as d’Tempat Country Club during the first quarter of this year.

“The group is confident that the profitability will be sustained through the launches of development projects as well as continuous sales of development projects which have been launched.

“The launch of Matrix Global Schools as well as the expected launch of the d’Tempat Country Club is expected to add to the appeal of the group’s Bandar Sri Sendayan township as well as various intangible factors which will contribute positively to the group’s profitability,” Matrix Concepts believed.

Meanwhile, in conjunction with the 4Q14 and FY14 financial results announcement, Matrix Concepts has also declared an interim dividend of 5.25 sen per share and a single-tier special dividend of 1.25 sen per share, both to be ex-date on March 25.